Older people often choose to spend money on themselves (e.g. on holidays) rather than save money for their children after retirement. Is this a positive or negative development?

The elderly usually pick spending money on their personal liking over saving it for their family.

While

some may argue that

this

behavior

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behaviour

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is selfish, others believe it is a justifiable reward for a lifetime of hard work. There is a belief that older adults should allocate their finances to saving for children

instead

of investing in themselves.

This

view is held by those who believe in the importance of intergenerational support and passing down wealth to future generations.

For example

, in many cultures, it is a common practice for parents to save cash for their teen’s education or to help them purchase a home.

On the other hand

, there are

also

valid reasons why older people may choose to spend money on themselves rather than save for their children. It's a time for people to take pleasure in the work they do and engage in activities that bring them happiness. Taking a well-deserved holiday or pursuing a hobby can contribute to their

overall

well-being and mental health.

For instance

, a retired couple who saved for their

teens’s

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teens

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education may feel justified in using their savings to travel and explore new experiences together. In conclusion, the decision of whether to spend money on oneself or save it for one’s children after retirement is a complex and personal one.

While

some may view prioritizing oneself as a negative development, others may see it as a well-deserved reward for years of hard work. Ultimately, I think that having a balance between self-care and providing for one’s family is key to achieving a fulfilling and meaningful retirement.